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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net loss $ (1,682,671) $ (663,396) $ (6,944,261)
Adjustments to reconcile net loss to net cash provided by / (used in) operating activities:      
Vessel depreciation (4,178,886) (3,305,951) (3,585,965)
Other operating income (499,103)
Loss on write-down of vessels held for sale 4,595,819
Amortization and write off of deferred charges 205,590 321,181 113,244
Amortization of debt discount 95,214 465,507 60,988
Net gain on sale of vessels (1,340,952) (803,811)
Amortization of fair value of below market time charters acquired (857,945)
Share-based compensation 97,919 124,487 116,562
Change in the fair value of derivatives (41,435) (204,647) 5,901
Loss on debt extinguishment 328,291
Trade accounts receivable 243,608 (73,210) (91,604)
Prepaid expenses (304,195) 24,703 (117,793)
Other receivables 460,909 (1,066,378) (210,741)
Inventories (184,773) (511,373) 329,244
Due to related company (1,877,333) (2,732,256) 4,314,415
Trade accounts payable 1,539,553 766,052 197,782
Accrued expenses 482,671 282,045 167,016
Deferred revenues 556,140 (172,544) 233,402
Net cash provided by / (used in) operating activities of continuing operations 3,240,429 (1,474,830) 5,053,025
Cash flows from investing activities:      
Cash paid for capitalized expenses and acquisition of vessels including attached time charter agreements (55,720,226) (1,867) (30,063,480)
Cash released from other investment 4,000,000
Proceeds from sale of vessels 6,255,735 9,552,260
Net cash (used in) / provided by investing activities of continuing operations (55,720,226) 6,253,868 (16,511,220)
Cash flows from financing activities:      
Redemption of Series B preferred shares (11,686,000)
Proceeds from issuance of common stock, net of commissions paid 6,853,101 1,975,110 549,495
Investment in subsidiary spun-off (3,298,356) (915,525)
Due from spun-off subsidiary 639,312
Preferred dividends paid (1,031,827)
Offering expenses paid (136,724) (22,488) (341,072)
Loan arrangement fees paid (566,500) (419,863) (187,637)
Proceeds from long-term bank loans 60,167,680 34,250,000 22,250,000
Repayment of long-term bank loans and vessel profit participation liability (13,401,460) (32,349,000) (7,243,915)
Proceeds from related party loan 5,000,000
Repayment of related party loan (2,000,000)
Net cash provided by financing activities of continuing operations 45,198,270 135,403 12,750,658
Net increase / (decrease) in cash, cash equivalents and restricted cash (7,281,527) 4,914,441 1,292,463
Cash, cash equivalents and restricted cash at beginning of year 13,211,588 8,297,147 7,004,684
Cash, cash equivalents and restricted cash at end of year, continuing operations 5,930,061 13,211,588 8,297,147
Cash breakdown      
Total cash, cash equivalents and restricted cash shown in the statement of cash flows, continuing operations 5,930,061 13,211,588 8,297,147
Net cash provided by operating activities of discontinued operations 3,970,170 2,910,287
Net cash used in investing activities of discontinued operations (29,045,685) (9,635,504)
Net cash provided by financing activities of discontinued operations 27,928,885 9,283,359
Cash paid for interest, net of capitalized expenses 3,100,049 2,475,631 1,174,863
Financing, and investing activities fees:      
Loan arrangement fees accrued 74,863
Offering expenses accrued 40,846 100,000 12,488
Payment-in-kind dividends 78,640 1,335,733 1,808,811
Capital expenditures included in liabilities 71,890
Accrued preferred dividends 161,315
Shares issued as consideration for acquisition of vessels 13,218,662
Preferred shares distributed to EuroDry   18,192,131  
Eurodry [Member]      
Financing, and investing activities fees:      
Preferred shares distributed to EuroDry $ 18,192,131